Government to present social insurance fund proposals on April 20

The Cypriot government is scheduled to present its proposals for managing the Social Insurance Fund's debt and investment policy to social partners on Monday, April 20. This meeting of the Labour Advisory Board is part of an ongoing pension reform process intended to be submitted to the new House of Representatives in June. Sotiroula Charalambous, General Secretary of the PEO trade union, confirmed the meeting and noted that trade unions are still awaiting clarification on several critical issues. A primary concern is the criteria for "subsidized contributions" designated for child, elderly, and disabled care. Unions are particularly focused on how these criteria will affect women who currently receive social pensions, as the reform includes the abolition of the social pension in its current form. The government debt to the fund is estimated to be approximately 12 billion euros, which stakeholders believe must be stabilized and reduced. Unions emphasize that transparent criteria are essential to ensure the new system does not negatively impact individuals, especially women, who have interrupted their careers for family obligations.